According to the settlement rules of China Financial Futures Exchange
Article 62? When a member is unable to engage in financial futures brokerage business for some reason or in the case of merger, division or bankruptcy, if the member applies for moving the position and is approved by the Exchange, or the China Securities Regulatory Commission requests moving the position, the Exchange may move the position of the customer to the member.
Article 63? The application materials for warehouse transfer submitted by the member shall include the statement that the mobile member, its customers and the mobile member agree to warehouse transfer, and the detailed list of the positions of the customers to be transferred. If the moving-in member or the moving-out member is a trading member, it must also submit a statement that the settlement member entrusted by it agrees to move the position.
In the following clauses, it is stipulated that after the application for relocation is approved, the Exchange will inform the members of the agreed relocation date. After the settlement is completed on the agreed relocation date, the Exchange will relocate customers for its members and provide a list of transferred customer positions for confirmation by the transferring members and transferring members. If the transfer-in member or the transfer-out member is a trading member, the list of the transferred customer positions shall also be submitted to its entrusted clearing member for confirmation.
The contents of futures transfer include the customer's position and the corresponding trading margin. Members shall check the list of transferred customer positions, which shall not be changed once confirmed.
Extended data
In order to create market illusion, or to transfer profits, members of the exchange transfer their positions from one seat to another, which is called moving positions.
In the process of stock index futures trading, when the members are unable to engage in financial futures brokerage business or merge, split or go bankrupt for some reason, the members apply for moving positions and get the approval of the Exchange, or the China Securities Regulatory Commission requires them to move positions.
In commodity futures investment, in order to keep the futures contracts in our hands the most active contracts, we will transfer the contracts in recent months to more active contracts. For example, foreign index funds that only make long positions will always hold these positions after buying commodity futures, mainly by constantly moving their positions to long-term positions.
Move warehouse-Baidu encyclopedia